Bailard Inc. Sells 9,500 Shares of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Bailard Inc. cut its holdings in Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) by 39.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,600 shares of the company’s stock after selling 9,500 shares during the period. Bailard Inc.’s holdings in Mind Medicine (MindMed) were worth $102,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its position in Mind Medicine (MindMed) by 203.6% during the third quarter. Barclays PLC now owns 136,098 shares of the company’s stock worth $775,000 after purchasing an additional 91,271 shares during the period. Wellington Management Group LLP lifted its position in Mind Medicine (MindMed) by 142.6% during the 3rd quarter. Wellington Management Group LLP now owns 185,722 shares of the company’s stock worth $1,057,000 after acquiring an additional 109,152 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Mind Medicine (MindMed) by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,677,702 shares of the company’s stock valued at $9,548,000 after acquiring an additional 162,933 shares during the period. SG Americas Securities LLC grew its position in shares of Mind Medicine (MindMed) by 48.8% in the fourth quarter. SG Americas Securities LLC now owns 24,406 shares of the company’s stock valued at $170,000 after purchasing an additional 8,004 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Mind Medicine (MindMed) by 0.5% during the 3rd quarter. State Street Corp now owns 1,814,829 shares of the company’s stock worth $10,326,000 after purchasing an additional 9,782 shares during the last quarter. 27.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MNMD shares. Oppenheimer reiterated an “outperform” rating and set a $20.00 price target on shares of Mind Medicine (MindMed) in a report on Tuesday, December 17th. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Mind Medicine (MindMed) in a research note on Friday, January 31st. Evercore ISI began coverage on shares of Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price target on the stock. Finally, Chardan Capital began coverage on shares of Mind Medicine (MindMed) in a report on Friday, December 20th. They set a “buy” rating and a $20.00 price objective on the stock. Ten investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $26.33.

Mind Medicine (MindMed) Stock Performance

NASDAQ MNMD opened at $6.38 on Thursday. The stock has a market cap of $467.86 million, a P/E ratio of -2.82 and a beta of 2.59. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09. Mind Medicine has a twelve month low of $5.03 and a twelve month high of $12.22. The company’s 50-day simple moving average is $7.44 and its 200 day simple moving average is $6.91.

Insider Activity

In other Mind Medicine (MindMed) news, insider Dan Karlin sold 6,643 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $49,357.49. Following the transaction, the insider now directly owns 338,013 shares in the company, valued at $2,511,436.59. The trade was a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $141,957.58. Following the sale, the chief executive officer now directly owns 526,666 shares in the company, valued at $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,022 shares of company stock worth $208,203. Company insiders own 2.26% of the company’s stock.

About Mind Medicine (MindMed)

Mind Medicine (MindMed) Inc, a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders. The company’s lead product candidates include MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder; and MM-402, a R-enantiomer of 3,4-methylenedioxymethamphetamine, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder.